Capital allocators across Central and Eastern Europe spent the back half of 2025 doing the same thing their Western peers were doing: asking where private wealth can sit in a way that is liquid, lightly taxed, and insulated from the policy risk that has unsettled several European markets. For a growing share of those allocators, part of the answer has been Dubai, and within Dubai, one segment keeps surfacing in the underwriting conversations. This is a look at why the villa segment,